FACULTY OF BUSINESS

Department of Economics

ECON 411 | Course Introduction and Application Information

Course Name
Public Economics
Code
Semester
Theory
(hour/week)
Application/Lab
(hour/week)
Local Credits
ECTS
ECON 411
Fall/Spring
3
0
3
5

Prerequisites
  ECON 101 To succeed (To get a grade of at least DD)
and ECON 102 To succeed (To get a grade of at least DD)
Course Language
English
Course Type
Elective
Course Level
First Cycle
Mode of Delivery -
Teaching Methods and Techniques of the Course -
Course Coordinator
Course Lecturer(s)
Assistant(s)
Course Objectives This course examines the role of government in private economies.  Under ideal market conditions, competition promotes economic efficiency via Adam Smith’s “invisible hand”, leaving little role for the government.  In some cases, however, markets fail and government intervention may be desirable.  Market failures to be analyzed include public goods, externalities, adverse selection and moral hazard.  In addition to these market failures, the government may have a role in the redistribution of income.  In the context of these market failures, we will analyze a variety of real world policies, including welfare, the earned income tax credit, Medicaid, Social Security, and Medicare.  The course then examines the financing of such government interventions.  Tax systems should be designed to enhance economic efficiency and to promote an equitable distribution of income.
Learning Outcomes The students who succeeded in this course;
  • Will be able to discuss central concepts and basic models of modern public economics.
  • Will be able to evaluate current public policies.
  • Will be able to discuss relevant issues currently on the political agenda.
  • Will be able to explain the economic contents and trade-offs of models.
  • Will be able to explain the assumptions, relevance, and limitations of the models.
  • Will be able to criticize policies in public economics.
Course Description The course is designed to get students familier with the tools and models of government intervention into the economy. Intermediate microeconomics and public finance would help students grasp the subject matter easily. Starting with the definition of public goods, externallities, different type of public expenditures and taxes and their effects on the economy will be analyzed during the course. In addition, empirical models about public expenditures and taxes are analyzed and students are encouraged to do their own empirical models.

 



Course Category

Core Courses
X
Major Area Courses
Supportive Courses
Media and Management Skills Courses
Transferable Skill Courses

 

WEEKLY SUBJECTS AND RELATED PREPARATION STUDIES

Week Subjects Related Preparation
1 Methodologies for empirical research Reading related chapter
2 Methodologies for empirical research Reading related chapter
3 Efficient production of public goods Reading related chapter
4 Different type of public expenditures Reading related chapter
5 Externalities Reading related chapter
6 Political economy Reading related chapter
7 Income redistribution Reading related chapter
8 Tax incidence Reading related chapter
9 Tax indidence and income distribution Reading related chapter
10 Review of the Semester  
11 Review of the Semester  
12 Review of the Semester  
13 Review of the Semester  
14 Review of the Semester  
15 Review of the Semester  
16 Review of the Semester  

 

Course Notes/Textbooks The textbook: Public Finance, Harvey Rosen Supplementary book: Econometric Guide, Peter Kennedy
Suggested Readings/Materials

 

EVALUATION SYSTEM

Semester Activities Number Weigthing
Participation
15
10
Laboratory / Application
Field Work
Quizzes / Studio Critiques
1
10
Portfolio
Homework / Assignments
Presentation / Jury
Project
Seminar / Workshop
Oral Exams
Midterm
1
40
Final Exam
1
40
Total

Weighting of Semester Activities on the Final Grade
17
60
Weighting of End-of-Semester Activities on the Final Grade
1
40
Total

ECTS / WORKLOAD TABLE

Semester Activities Number Duration (Hours) Workload
Theoretical Course Hours
(Including exam week: 16 x total hours)
16
3
48
Laboratory / Application Hours
(Including exam week: '.16.' x total hours)
16
0
Study Hours Out of Class
16
2
32
Field Work
0
Quizzes / Studio Critiques
1
5
5
Portfolio
0
Homework / Assignments
0
Presentation / Jury
0
Project
0
Seminar / Workshop
0
Oral Exam
0
Midterms
1
30
30
Final Exam
1
35
35
    Total
150

 

COURSE LEARNING OUTCOMES AND PROGRAM QUALIFICATIONS RELATIONSHIP

#
Program Competencies/Outcomes
* Contribution Level
1
2
3
4
5
1

To be able to acquire a sound knowledge of fundamental concepts, theories, principles and methods of investigation specific to the economic field.

X
2

To be able to apply adequate mathematical, econometric, statistical and data analysis models to process economic data and to implement scientific research for development of economic policies.

X
3

To be able to participate in academic, professional, regional, and global networks and to utilize these networks efficiently.

4

To be able to have adequate social responsibility with regards to the needs of the society and to organize the activities to influence social dynamics in line with social goals.

X
5

To be able to integrate the knowledge and training acquired during the university education with personal education and produce a synthesis of knowledge one requires.

6

To be able to evaluate his/her advance level educational needs and do necessary planning to fulfill those needs through the acquired capability to think analytically and critically.

X
7

To be able to acquire necessary skills to integrate social dynamics into economic process both as an input and an output.

X
8

To be able to link accumulated knowledge acquired during the university education with historical and cultural qualities of the society and be able to convey it to different strata of society.

9

To be able to take the responsibility as an individual and as a team member.

10

To be able to attain social, scientific and ethical values at the data collection, interpretation and dissemination stages of economic analysis.

X
11

To be able to collect data in economics and communicate with colleagues in a foreign language ("European Language Portfolio Global Scale", Level B1)

12

To be able to speak a second foreign at a medium level of fluency efficiently.

13

To be able to relate the knowledge accumulated throughout human history to their field of economics.

*1 Lowest, 2 Low, 3 Average, 4 High, 5 Highest

 


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